Ooredoo Q.S.C. (ORDS: QAR9.86) drops to five-month low on spectacular volume; -4 Dirham [0.4%] Vol Index 17.7 [1 is avg] 16 May 2024

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Ooredoo Q.S.C.'s (QE: ORDS QAR9.86) stock price traded at its 127-day low of QAR9.78. The last time the price hit that low level was on Wednesday, Jan 10, 2024.

Ooredoo Q.S.C.'s stock price decreased 4.0 Dirham (0.4%) from its previous trading session to close at QAR9.86.

Compared with the QE Index which rose 56.7 points (0.6%) in the day, the relative price change was -1.0%.

Ooredoo Q.S.C. is Qatar's largest Telecommunication company by market cap.

There were 1,525,123 shares worth QAR15 million ($4.1 million) traded today. The fall was exacerbated by spectacular volume of 17.7 times the average daily volume of 86,315 shares.

OOREDOO Q.S.C. (ORDS) Stock Dashboard [traded in Qatari Riyal, QAR] End-of-Day Thu, May 16

http://www.qtel.com.qa

LastQAR9.86Market CapQAR32 billion [US$9 billion]
P/E10.5Dividend Yield % (TTM)5.6
EPS (FY2023)94.0 DirhamDPS (past 12 months)QAR0.4 or 43 Dirham
Shares Outstanding3,203,200,000ExchangeQATAR [Doha]
ORDS in IndicesQE [of 21 stocks]SectorTelecommunication [of 2 stocks]
EPS Growth (FY2023 vs FY2022)27%Today's VI*17.7
Today's Volume1,525,123Currency1.000 USD = 3.64 Qatari Riyal (QAR)
Ave Daily Volume86,315 sharesPV$1000 (1 yr)QAR993
US$993

A year ago the exchange rate was USD 1 = 3.64 QAR. USD1000 would have bought QAR3,640. A year ago the Ooredoo Q.S.C. share price was QAR10.43. QAR3,640 would have bought 349.1 Ooredoo Q.S.C. shares on that day. Those 349.1 shares would be worth QAR3,442 at today's share price of QAR9.86. At today's exchange rate of USD1=3.64 QAR this is equivalent to USD946. Dividends reinvested are worth QAR47 ($47). PV$1000= $993.

Primary Exchange and Other Listings: Trading Currency and Volume

ExchangeTickerCurrencyLastADVTVol % of TotalToday's VI
DohaORDSQAR9.861,066,30088.71.4
MuscatORDSOMR0.3368,59111.30.5
Total100.00

1 QAR [Qatari Riyal]= 0.1057 OMR [Omani Rial]

ADVT= Avg. Daily Volume of Trading; VI= Volume Index (1 is avg)

INDEX

SECTION 1 RECENT NEWS AND RESEARCH

SECTION 2 THE PAST QUARTER: PRESS RELEASES

SECTION 3 TODAY'S BEARISH SIGNALS

SECTION 4 ONGOING BEARISH PARAMETERS

SECTION 5 TODAY'S BULLISH SIGNALS

SECTION 6 ONGOING BULLISH PARAMETERS

SECTION 7 CORPORATE PROFILE

SECTION 8 FINANCIALS FY 2023

SECTION 9 DIVIDEND

SECTION 10 TOP MANAGEMENT

SECTION 11 TOP SHAREHOLDERS

Read more...

ANNEXURE

APPENDIX I DATA & ARCHIVE DOWNLOAD CENTER

APPENDIX II STOCK IDENTIFIERS

GLOSSARY

SECTION 1 RECENT NEWS AND RESEARCH

Financial News

Annual Report (FY 2023):

Release Date: February 19, 2024

FY2023 Annual Report: Ooredoo Q.S.C. EPS Growth slows to 27%

Ooredoo Q.S.C. (QE:ORDS), announced EPS of 94.0Dirham (US25.82c) for the year-ended 31 December 2023 [FY2023], up 27% from 74.0Dirham (US20.33c) in the previous year-ended 31 December 2022 [FY2022]. EPS growth from the year-ended 31 December 2021 [FY2021] to the year-ended 31 December 2022 [FY2022] was 7,300%.

Annual growth in Revenue, Net Profit and EPS

Year-ended31 December [FY/2023]31 December [FY/2022]
Revenue, QAR Billion23.222.7
Revenue, $ Billion6.46.2
Growth in Revenue %2.1-29.0
Net Profit, QAR Billion3.02.4
Net Profit, $ Million829648
Growth in Net Profit %27.84930.6
EPS, Dirham94.074.0
Growth in EPS %27.07300.0

VI* Volume Index = Number of shares traded today/Average number of shares traded per day.

Past quarter momentum down: Ooredoo Q.S.C. drops 3.9% on spectacular volume 12.1 times average.

Past month to HighLowVWAPVolume Index *
16 May 202410.289.7810.0512.1
16 Apr 202411.0010.0010.3815.3
14 Mar 202411.139.9511.041.2

[*Volume Index of 12.1 means volume for the month was 12.1 times its 12-month average]

[VWAP is defined as the Volume Weighted Average Price; High Low prices and VWAP are shown in Qatari Riyal]

SECTION 2 THE PAST QUARTER: PRESS RELEASES

2.1 Press Releases and Corporate Wire

Press Release article 1 of 1, Source: WEC, 34 words

February 22: Ooredoo Q.S.C. announces dividend

Ooredoo Q.S.C. today announced a cash dividend of 55.0 Dirham per share. The ex-dividend date is Thursday, March 07.

SECTION 3 TODAY'S BEARISH SIGNALS

3.1 3-DAY: STRONG MOMENTUM DOWN

ORDS dips 0.7% on spectacular volume 10.97 times average. Compared with the QE Index which rose 22.2 points (or 0.2%) in the 3-days, the relative price change was -0.9%.

Week 20 of 2024: Down 0.9%; Ooredoo Q.S.C. (ORDS) underperformed the QE Index in 2 out of 3 days. The price ranged between a low of QAR9.86 on Thursday May 16 and a high of QAR9.92 on Tuesday May 14.

MayOoredoo Q.S.C.Close [QAR]Change %Comment
Thu 16Drops to five-month low on spectacular volume9.86-0.4Steepest Fall; VI*=17.7
Wed 15Offers earnings yield of 9.5%9.9-0.2VI*=9.9
Tue 14Decreases on spectacular volume9.92-0.1VI*=5.99

* RPC - Relative Price Change is % price change of stock less % change of the QE Index.

[Volume Index (VI); 1 is average]

3.2 Rank in the bottom 10% by Relative Valuation in the Qatar market

DescriptionValueRank
Price to Book Value2.6In Bottom 10%

3.3 Rank in the bottom 21% by Price Performance in the Qatar market

DescriptionValueRank
1-month Price Change %-2.6In Bottom 21%
Price/MAP500.95In Bottom 11%

3.4 Downtrend

Beta < 1 combined with price fall. The Beta of the stock is 0.9.

Price/Moving Average Price of 0.98 and negative MACD:

- The Price/MAP 200 for Ooredoo Q.S.C. is 0.98. Being less than 1 is a bearish indicator. The 200-day MAP has decreased to QAR10.11, a second bearish indicator.

- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 9.97 minus the 26-day EMA of 10.09 is negative, suggesting a bearish signal. Both the 12-day EMA as well as the 26-day EMA are falling, another bearish signal.

Past Month:

- Falls to Rises: In the past month the number of falls outnumbered rises 16:6 or 2.7:1.

SECTION 4 ONGOING BEARISH PARAMETERS

4.1 Rank in the bottom 15% by Performance in the Qatar market

DescriptionValueRank
Net Profit Margin %15.2In Bottom 15%

4.2 Present Value of QAR1000 Invested in the Past Year; The Worst Period with PVQAR1000 < 994

PVQAR1,0001 yr ago
ORDS.QEQAR993
Telecommunication sectorQAR903
QE IndexQAR925

4.3 Annualised Period-based Total Shareholder Returns [TSR %]: The Worst Period with TSR < -0.6%

TSR %1 yr
ORDS.QE-0.7

4.4 Declining Volume, down 93% in 5 years

In the past five years, Average Daily Volume of Trading (ADVT) has decreased 92.9% to 86,315 shares.

Avg. Daily Volume Traded 12 months ended May 16, thousand shares

YearADVT
202486.3
20231275.0
20221405.1
20211323.9
20201214.4

SECTION 5 TODAY'S BULLISH SIGNALS

Price/Earnings:

Ooredoo Q.S.C. stock is trading at the sixth lowest P/E multiple in the QE Index.

Earnings Yield

- The earnings yield of 9.5% is 2.4 times the 10-year bond yield of 4.03%.Ooredoo Q.S.C. stock is the eighth highest dividend yielding stock in the QE Index.

5.1 Rank in the top 24% by Relative Valuation in the Qatar market

DescriptionValueRank
Cash to MCap %36.3In Top 18%
Price to Sales1.4In Top 21%
Price/Earnings/Growth0.39In Top 24%

5.2 Other Bullish Signals

- Return on Equity of 11.5% versus sector average of 9.9% and market average of 6.4%.

MCap/Total Assets:

- Tobin's Q Ratio, defined as MCap divided by Total Assets, is 0.5. Compared with the rest of the market the stock is undervalued.

- The company is cash rich with Cash to Market Capitalisation at 36.3%.

- Over the last 3 years average annual compound growth rate of earnings per share was 19.0%. This is considered moderate.

- Net profit margin has averaged 10.2% in the last 3 years. This is better than the sector average of 7.0% and suggests a high margin of safety.

- As per the Du Pont analysis, Return on Equity of 11.5% is better than sector average of 9.9%. This is computed as net profit margin of 15.2% times asset turnover [sales/assets] of 0.4 times leverage factor [total assets/shareholders' equity] of 1.9.

5.3 Oversold/Bullish Signals:

- The stock is oversold according to the Williams % R indicator of -81.8, suggesting the price is close to its 14-day low of QAR9.78.

- The Stochastic indicator of 11.9 has pierced the oversold line of 20; this indicates the price is close to its 14-day low and is likely to revert to an uptrend.

SECTION 6 ONGOING BULLISH PARAMETERS

6.1 Growth in annual dividends per share and earnings per share

- Ooredoo Q.S.C. sees dividend rise for a third consecutive year

Ooredoo Q.S.C. reported dividends per share of 55.0 Dirham in the past year, up 27.9% from the previous year. This is the third consecutive dividend increase. In the past 3 years average annual compound growth rate of dividends was 30.1%.

- EPS growth [FY2023 vs FY2022] of 27.0%:

FYEPS ( Dirham)Growth %
202394.027.0
202274.07,300.0

6.2 Rank in the top 8% by Size in the Qatar market

DescriptionValueRank
MCap$9 billionIn Top 8%
Annual RevenueQAR23.2 billion ($6.4 billion)In Top 8%

6.3 Rank in the top 24% by Productivity in the Qatar market

DescriptionValueRank
Return on Capital Employed [ROCE] %9.1In Top 16%
Return on Equity [ROE] %11.5In Top 24%

6.4 Present Value of QAR1000 Invested in the Past [3 Mo, 3 Yrs]; The Best Periods with PVQAR1000 > 1,009

PVQAR1,0003 mo ago3 yrs ago
ORDS.QEQAR1,010QAR1,831
Telecommunication sectorQAR911QAR1,283
QE IndexQAR1,006

6.5 Past 3 years: price rise of 59%

3-Year price change of 59% for Ooredoo Q.S.C. outperformed the change of -11.3% in the QE Index for a relative price change of 70.3%.

Price Change %3 Years
Ooredoo Q.S.C.59
Telecommunication sector28.2
QE Index-11.3

6.6 MCap: 5-Year Increase of QAR12 B [$3B] (60%)

In the past 5 years Market Capitalization has increased by QAR11.8 billion (60%) from QAR19.8 billion to QAR31.6 billion. Based on a dynamic start date of 5 years ago, there have been declines in MCap in 2 out of 5 years.

PriceMCap (QAR B)MCap ($ M)
LastQAR9.8631.68,676.8
1 Year agoQAR10.4335.19,636
2 Years agoQAR6.6623.46,441.6
3 Years agoQAR6.2022.76,239.2
4 Years agoQAR5.2219.85,429.6
5 Years agoQAR5.0219.85,438.4

6.7 Created Market Value [CMV] past 9 yrs of QAR3.2 billion ($875.1 million)

- Market Capitalization has increased by QAR9.2 billion from QAR22.4 billion to QAR31.6 billion in the last 9 years. This increase comprises cumulative retained earnings (RETE) of QAR6 billion and Created Market Value of QAR3.2 billion. The Created Market Value multiple, defined by the change in MCap for every QAR1 of retained earnings is QAR1.53.

6.8 Annualised Period-based Total Shareholder Returns [TSR %]: The Best Periods with TSR > 7.4%

TSR %3 yrs5 yrs10 yrs
ORDS.QE22.119.87.5

6.9 P/E/G < 1

The price earnings ratio of 10.5 divided by trailing twelve months eps growth of 27.0% corresponds to an attractive P/E/G of 0.4 times; being less than the value benchmark of 1.0.

EPS Growth (%)27.03
P/E/G0.39
P/E10.49

6.10 Improved EBIT Margins:

EBIT margin is positive and has increased from 14.7% to 18.5% in the past year.

FYEBIT Margins (%)
202318.5
202214.7
20215.6
20205.6
20198.8

6.11 Increased VWAP, up 85% in 5 years

In the past five years Volume Weighted Average Price (VWAP) has increased by 85.2% to QAR10.13. Based on a dynamic start date of five years ago, there has been no decline in VWAP over the last 5 years.

Past five years, 12 months ended May 16 (QAR)

YearHigh PriceVWAPLow Price
202411.4210.138.47
202310.868.246.5
20226.916.315.78
20217.616.045.2
20206.515.474.06

6.12 Increased share turnover, up 47% in 5 years

In the past five years, average daily share turnover has increased 47.1% to QAR10.1 million ($2.8 million). This suggests increased liquidity.

Past five years, 12 months ended May 16 (QAR million)

YearAverage Daily Turnover
202410.1
202310.5
20228.7
20217.8
20206.9

6.13 Satisfies one criterion of Benjamin Graham

-"Stability of growth in earnings over the last 5 years, defined as no more than two declines of 5% or greater in year-end earnings";there have been 2 declines in earnings in the last 5 years.

6.14 Satisfies 6 out of 9 criteria of Joseph Piotroski [pass mark 5]:

- Positive net income.

- Positive operating cashflow.

- Return on Assets improvement [from 4.5% to 6%].

- Good quality of earnings [operating cashflow exceeds net income].

- Improvement in current ratio from 1.3 to 1.5.

- Total shares on issue unchanged.

But does not meet the following 3 criteria of Joseph Piotroski:

- Improvement in long-term debt to total assets.

- Improvement in gross margin.

- Improvement in asset turnover.

SECTION 7 CORPORATE PROFILE

7.1 Activities

Ooredoo Q.S.C. is a provider of domestic and international telecommunication services to residential and business users. The Company offers landline, mobile, cable television and Internet services to personal users and businesses. It is Qatar's largest Telecommunication company by market capitalisation.

7.2 Contact Details

Websitehttp://www.qtel.com.qa
Physical AddressCornish St. - West Bay - Doha 217
Phone4400400
Fax4830011
Emailinfo@qtel.com.qa

7.3 Industry & Sector [of 2 stocks]

Classification LevelName of Sector
Economic SectorTelecommunication Services
Business SectorTelecommunications Services
Industry GroupTelecommunications Services

SECTION 8 FINANCIALS FY 2023

8.1 Financials, FY 2023 [year-ended 31 December 2023 ]

Ooredoo Q.S.C. EPS Growth slows to 27%

Release Date: February 19, 2024

Ooredoo Q.S.C. (QE:ORDS), announced EPS of 94.0Dirham (US25.82c) for the year-ended 31 December 2023 [FY2023], up 27% from 74.0Dirham (US20.33c) in the previous year-ended 31 December 2022 [FY2022]. EPS growth from the year-ended 31 December 2021 [FY2021] to the year-ended 31 December 2022 [FY2022] was 7,300%.

8.2 Annual growth in Revenue, Net Profit and EPS

Year-ended31 December [FY/2023]31 December [FY/2022]
Revenue, QAR Billion23.222.7
Revenue, $ Billion6.46.2
Growth in Revenue %2.1-29.0
Net Profit, QAR Billion3.02.4
Net Profit, $ Million829648
Growth in Net Profit %27.84930.6
EPS, Dirham94.074.0
Growth in EPS %27.07300.0

Major changes compared with previous year (FY2023 vs FY2022):

Favourable Changes:

- Net profit up 27.8% from QAR2.4b ($648.4m) to QAR3.0b ($828.5m)

- Sales revenue up 2.1% from QAR22.7b ($6.2b) to QAR23.2b ($6.4b)

- EPS up 27% from 74.0Dirham (US20.33c) to 94.0Dirham (US25.82c)

- EBIT Margin up from 14.7% to 18.5%

- EBIT to total assets up from 5.4% to 7.4%

Unfavourable Changes:

- Total current assets to Total Assets down from 31.7% to 29.3%

- Cash to Total Assets down from 21.4% to 19.7%

Year-on-year comparison of Performance Ratios [FY2023 vs FY2022]

December 31FY2023FY2022Change (%)
Return on Equity (%)11.59.8Up 17.3
Total debt to net tangible assets (%)131.7245.3Down 46.3
Debt/Equity0.50.8Down 31.2
Common Size Ratios by Assets %
Cash to Total Assets 19.7 21.4 Down 7.9
Long-term investments to Total Assets 14.0 13.0 Up 7.5
Current Debtors to Total Assets 8.7 9.3 Down 6.8
Future income tax benefit to Total Assets 0.6 0.5 Up 17.3

Currency Conversion (December 31, 2023): $1 = QAR3.64

Currency Conversion (December 31, 2022): $1 = QAR3.64

Five-year record of growth and performance:

In the last 5 years Total Revenue averaged QAR27.8B ($7,625.2M) and Net Profit averaged QAR2.2B ($602.8M). Compound Annual Growth Rate (CAGR) averaged -5.6% for Total Revenue and 14.0% for Net Profit.

DescriptionAnnual (QAR B)Annual ($ M)5-year Avg (QAR B)5-year Avg ($ M)5-year CAGR %
Total Revenue23.26,363.727.87,625.2(5.6)
Operating Profit4.31,177.72.7745.313.5
Net Profit3828.52.2602.814

Five-year record of Operating Profit, Net Profit, ROE, ROA and ROCE

In 2023 Net Profit Margin of 15.2% was above its 5-year Avg of 8.5% (All Figures in %)

Description20235-year Avg
Operating Profit Margin18.510.5
Net Profit Margin15.28.5
Return on Equity11.57.6
Return on Assets63.2
Return on Capital Employed9.15.3

SECTION 9 DIVIDEND

9.1 Dividend History

In the past 5 years annual dividends have increased by 30.0 Dirham from 25.0 Dirham to 55.0 Dirham. Based on a start date of 5 years ago, there has been no decline in dividends over the last 5 years.

DateValue ( Dirham)Type
07 Mar 202455Cash
Tr 12 Months55
2022 - 202343
2021 - 202230
2020 - 202125
2019 - 202025

SECTION 10 TOP MANAGEMENT

10.1 Top Management

NameDesignation
H. E. Sheikh Abdulla Bin Mohammed Bin Saud Al ThaniChairman
Damian ChappellChief Marketing Officer
Mansoor Al KhaterChief Strategy Officer

SECTION 11 TOP SHAREHOLDERS

Top 9 shareholders

Name of the Share HolderNumber Of Shares% of Capital
Qatar Investment Authority171339168053.5
General Authority for Retirement and Social Insurance - Civil Fund40584544012.7
Abu Dhabi Investment Authority32032000010.0
General Retirement and Social Insurance - Military Pension Fund608608001.9
Qatar National Bank QPSC250266020.8
Ibrahim Abdullah Saad Al Mahmoud608610.002
Turki Mohamed Khaled Al Khater512510.002
Nasser Rashid Al Humaidi512510.002
Nasser Mohamed Marafih320320.001

% held by Top 9 shareholders 78.9%

APPENDIX I DATA & ARCHIVE DOWNLOAD CENTER

ORDS: EXPORT DATA TO EXCEL:

+ PRICE VOLUME - 5-YEAR HISTORY

+ FINANCIALS - 10-YEAR HISTORY [INCLUDING FY 2023]:

+ PEER COMPARISON

ORDS: OTHER INFORMATION:

+ NEWS ARCHIVES - ORDS PAST 4 YEARS:

+ PRICE VOLUME CHARTS

+ BOARD OF DIRECTORS

APPENDIX II STOCK IDENTIFIERS

ISIN: QA0007227737

PermID: 4295886938

RIC: ORDS.QA

LEI: 549300D3EIDZJB62TR20

GLOSSARY

ADVT: Average Daily Volume of shares Traded

Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)

Cash/MCap: Cash plus Liquids/Market Capitalisation (times)

Current Ratio: Current Assets/Current Liabilities (times)

Dividend Yield: Dividend Per Share/Share Price (%)

EBIT Margin : Earnings Before Interest and Tax/Revenue (%)

Earnings Yield: Earnings Per Share/Share Price (%)

Income during the n years (3/2/1): Dividends received during the Period

Moving Average Price (n periods): Sum of Prices for each Period/Number of Periods

PV1000: Present value of 1000 invested 1 year/'n' years ago

Price Close/Moving Avg Price: Latest Price/Moving Average Price

Price/Earnings: Share Price/Earnings Per Share (times)

Price/NTA: Closing Share Price/Net Tangible Assets Per Share (times)

Price/Sales: Share Price/Sales Per Share (times)

Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index

Return on Assets: Net Profit/Total Assets (%)

Return on Equity (Shareholders' Funds): Net Profit/Net Assets (%)

TSR: Total Shareholder Returns is expressed as an annualized rate of return for shareholders after allowing for capital appreciation and dividend

TTM: Trailing 12 Months

Volume Index (VI): Number of shares traded in the period/Average number of shares traded for the period

Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.

Disclaimer: While this document is based on information sources which are considered reliable, it has been prepared without consideration of your specific investment objectives, financial situation or needs, so you should carry out your own analysis or seek professional investment advice before an investment decision is made. The document contains unbiased, independent equities data and analysis from Jupiter International (Australia) Pty Ltd trading as BuySellSignals (AFS Licence 222756), who provide round the clock analysis on every stock, every sector, every market, every day. BuySellSignals is not a broker, and does not have executing, corporate advisory or investment banking functions. Jupiter International (Australia) Pty Ltd, its directors, employees and contractors do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate.

Data for the BuySellSignals algorithms is drawn from annual reports, company websites and similar sources of publicly available data. It should be used as a guide only.

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